THE CONTRIBUTION OF WAQF INSTITUTIONS IN MALAYSIA AND TURKEY IN IMPROVING THE SOCIO-ECONOMIC CONDITIONS OF THE SOCIETY

407
604

Öz

It has been widely acknowledged that waqf
institutions play an important role in the socio-economic development of the
Muslim Ummah in the Islamic history. This paper elaborates the contribution of
selected waqaf entities in Turkey and Malaysia in improving the socio-economic
conditions of the society. The waqaf entities involved in this study include
two corporate waqaf institutions from Malaysia, namely Al-Bukhary Foundation
and Kumpulan Waqaf An-Nur Berhad;and
four waqaf entities in Turkey, namely, IHH Foundation, Diyanet Foundation,
Hakyol Foundation, and TIMAV. This study discusses the projects and programs
undertaken by these selected waqf entities to achieve their respective
objectives.Such a comparison is
important considering the diverse experiences of these selected waqaf entities
in view of the differences in their endowments and different corporate management
models. The paper investigates whether these waqaf entities have implemented a
novel approach in developing waqf programs and experimenting new ways of new
reaching out to the beneficiaries.

Hassan, A. and M.A. Shahid, (2010). Management and development of the aqwaf assets. Proceedings from the Seventh International Conference – The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi pp. 309-328.

Hasan, Z. and M.N. Abdullah, (2008). The investment of waqf land as an instrument of muslims’ economic development in Malaysia. Dubai International Conference on Endowments’ Investment, 4-6th February 2008 organized by Awqaf and Minors Affairs Foundation, Dubai, the United Arab Emirates.

JAWHAR (Jabatan Wakaf, Zakat dan Haji OR The Department of Waqaf, Alms and Hajj), accessed on January 12, 2012, http://119.110.108.126/spmwj/,.

Kahf, M., (2004). The Role of Waqf in Improving the Ummah Welfare, paper presented in the International Seminar on Waqf as a Private Legal Body, January 6-7, 2004, Medan, organized by the Islamic University of North Sumatra, Indonesia.

Korkut, Şenol. (2010). The Diyanet of Turkey and Its Activities in Eurasia after the Cold War, Acta Slavica Iaponica, Tomus 28, pp. 117‒139.